The Highliner : ‘Trident hereby terminates’ Wrangell deal

The Highliner

Commercial fishing is a bedrock industry in Alaska, and has been for more than a century. Every year scores of fishermen net millions of migrating salmon, challenge the icy Bering Sea to trap king crabs, lay miles and miles of baited hooks for halibut, and scoop up enough pollock for a zillion fish sticks. And when fishermen aren't out fishing, they're usually talking about fishing. That's what this blog by Wesley Loy has been all about for the two years he has written it.

‘Trident hereby terminates’ Wrangell deal

Posted by The Highliner

Posted: March 24, 2009 - 5:02 pm

Here’s a letter confirming where Trident Seafoods Corp. now stands on its proposed $4.35 million purchase of troubled Wrangell Seafoods Inc.

The deal is off.

Trident president Paul Padgett seems to blame WSI representatives for the purchase falling apart.

His letter to WSI chairman Douglas Roberts says certain labor-related allegations weren’t disclosed to Trident at the time the sale agreement was put together.

Hmm. Wonder if this will get messy? A lot of lawyers already are involved.

Wrangell city officials were hopeful the sale would go through so the plant, now mired in bankruptcy proceedings, could operate this summer.

The Wrangell Sentinel has reported that another suitor for WSI might be in the wings now: E.C. Phillips and Son Inc. of Ketchikan.